Argentine court upholds $19 bln freeze on Chevron assets- lawyer

January 30, 2013|Reuters

BUENOS AIRES, Jan 30 (Reuters) - An Argentine appeals courthas upheld a freeze on up to $19 billion worth of assets held byU.S. oil major Chevron Corp in Argentina as part of anenvironmental lawsuit by Ecuadorean villagers, one of theplaintiffs' lawyers, Enrique Bruchou, told Reuters on Wednesday.

Two Chevron affiliates, Chevron Argentina and Ing. NorbertoPriu, asked the court in November to lift the asset freeze onthe grounds that they were not directly owned by Chevron, butthe court rejected their appeal unanimously, Bruchou said.